NEW DELHI: PepsiCo, a food and beverage products business company, has announced an investment of Rs 514 crore in the coming three years in Uttar Pradesh. The company will set up a snack factory here. PepsiCo India said it has set a target of doubling its snack business in the country by 2022. The new investment in UP is being done as per the same scheme.
This will provide jobs directly and indirectly to 1,500 people. A deal in this regard has been taken between the company and the Uttar Pradesh government during the land poojan ceremony of the Investor Conference here. Union Home Minister Amit Shah and state CM Yogi Adityanath were also present on the occasion. "PepsiCo is determined to further its food and beverage business," said Ahmed Al Sheikh, president, and chief executive officer of PepsiCo India. We have a long-standing relationship with the people of Uttar Pradesh.
We have a goal to double our snack business over the next few years. We will invest Rs.514 crore on our expansion in Uttar Pradesh. According to the project, PepsiCo will enhance cooperation with local farmers and help in adopting the best practices of the agriculture sector, the company said. This will help the potato farmers of the state in socio-economic development. Currently, PepsiCo buys all the potatoes used in its leases and uncle chips from local farmers according to its agricultural program. The company has tie-ups with 24,000 farmers in 13 states.
ICICI Bank reports a net profit of Rs 1,908 crore for June quarter
